Will the precious metals be able to reclaim $1800 & $24, rally, and…
(by Half Dollar) It is going to be an interesting week for gold & silver.
Not to mention the fact that we still have the ongoing “spending” “negotiations” taking place between our “elected” “leaders” and public “servants” in Washington, there are two events on specific days and times this week when the prices of gold & silver will move.
First, on Wednesday, the Fed concludes its most recent 2-day FOMC meeting at 2:00 p.m. EST, followed by Fed Chair Jerome Powell’s press conference thirty minutes later.
“Market” “Participants” are expecting a taper announcement and timeline, meaning the Fed will announce it will be printing less money than the Fed is printing now, although there is zero probability of an interest rate hike, and let’s not kid ourselves, really: The War on American Savers and the Enslavement of America’s Youth continue unabated.
Regardless, it’s that time again, and in theory, there should be more “pressure” put on Powell about the “transitory” inflation that only worsens and the “temporary” supply chain disruptions that are more disrupted than ever, especially since we’re supposedly very close to a “deal” in Washington and one of Powell’s bestest buddies, Janet “Never-Another-Financial-Crisis-In-Our-Lifetimes” Yellen, has been telling all sorts of lies and spewing all sorts of crazy nonsense lately.
Additionally, speaking of pressure, more of it should be put on Powell with regards to the vile corruption on display at the Fed with the pre-monetary policy “market” “trading” money-grabs by the Fed insiders themselves, but in reality, applying pressure is no way a Sell Out secures a square on Zoom at the virtual conferences, much less is applying pressure a way to keep that square.
Cheerleading is, to put it lightly.
And butt kissing is, to not get too vulgar.
Still, for some time now, the Fed in general, and Powell specifically, have been focusing much of their Newspeak on jobs instead of on inflation, because it is much easier to lie in the abstract than it is to lie in the face of common sense, but this time around, not only do we have the displeasure of hearing what Powell will say about jobs on Wednesday, but on Friday, we will actually get the next jobs report from the government.
That, is the second hurdle for gold & silver.
Needless to say, assuming there are no black swans, this week will be all about the narratives.
Keep your Pepto at the ready.
Silver is down almost 11%:
Gold is down nearly 6.5%:
The paper gold-to-silver ratio is back down under 75:
Where is the ratio headed next?
Palladium is down over 19%:
Platinum is down less than 5%:
Crude oil is up almost 75%:
Copper is up over 23%:
Fear in the markets is down about 27.5%:
The stock market is up about 22.5%:
Yield on the 10-Year Note is up over 70%:
And the dollar index is up almost 5%:
It’s been that kind of a year.
What kind of a week will it be?